A business model explains the logic behind how a company develops, delivers, and captures value.
How should logic be understood?
I don't see the logic in his argument, especially one that is logical and founded on sound judgement. Simply put, if prices increase, wages must follow suit. Inference-drawing is a key component of logic, the study of sound reasoning. About 335 BC, the father of logic Aristotle was the first to describe it. - India was the independent birthplace of formal logic, which persisted there until the early modern era. Medhatithi Gautama gave it a start in the sixth century BC. The ability to reason logically requires the observation, analysis, and interpretation of phenomena, responses, and feedback. 1 The information they obtain can be used to support their tactics, choices, and judgements.
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The business model describes the rationale of how the organization creates, delivers, and captures value.
What is a business model?The phrase "business model" describes a company's strategy for turning a profit. It lists the goods or services the company intends to offer, its chosen target clientele, and any budgeted costs. Business models are critical for both new and current businesses. A business model explains how an organization creates, transmits, and collects value in economic, social, cultural, and other contexts.
It is a part of business strategy and is known as "business model innovation" to refer to the process of developing and altering a business model. As there are many kinds of businesses, there are different kinds of business models. Traditional business methods include, for instance, direct sales, franchising, advertising-based businesses, and brick-and-mortar stores.
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Fill The blank ? always keep your filed taxes for at least three years in case the irs decides to ______ your tax return.
Never throw away your filed taxes; retain them for at least three years in case the IRS decides to audit them.
Your W-2, 1099s, and other documents are likely not something you want to keep after filing your tax return. You don't really want to worry about your taxes at all, it's safe to say. However, don't immediately toss them out after sending your electronic forms or mailing your tax return.There are some documents you'll actually want to keep forever (and should). Making it a habit to store documents you'll need in the future will pay off in the long run by reducing your tax burden. These documents are listed along with reasons why you ought to maintain them.
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what must a plaintiff prove in an express warranty case?
Before a plaintiff can be awarded damages under this theory, the plaintiff must establish two things: (1) The defendant's product actually fell short of its express claims, and (2) The plaintiff relied on these warranties to his or her harm.
What is plaintiff?The person who files a lawsuit with the court is known as the plaintiff. In doing this, the plaintiff is looking for a legal remedy. The court will rule in the plaintiff's favour and issue the necessary orders if this search is successful. In contrast to the defendant, who is the party who is being sued, the plaintiff is the party who initiates or on whose behalf the legal action is initiated. In civil and equity law, as well as admiralty, the term is equivalent to petitioner and libelant, respectively. The defendant is the individual or thing who is being sued. In legal actions and/or lawsuits, the phrases plaintiff and defendant are frequently employed.
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A paradigm shift is:
a.when you move capital
b.a reorganization of a company
c.a change in opportunity
d.a change in how we fundamentally see a situation
Option d: .a change in how we fundamentally see a situation. A paradigm shift is a change in how we fundamentally see a situation.
Paradigm His Shift is a term in the philosophy of science introduced by the American physicist and philosopher Thomas Kuhn and accepted into a common vocabulary, and is fundamental to the fundamental concepts and experimental practices of the scientific field. is a change.
Although Kuhn limited the use of the term to the natural sciences, the term paradigm shift is also used in many non-scientific contexts to describe significant changes in the underlying models or perceptions of events. I'm here.
Kuhn presented the idea of a paradigm shift in his influential book The Structure of Scientific Revolutions (1962).
Kuhn contrasts the paradigm shifts that characterize scientific revolutions with the activities of ordinary science and describes them as scientific research within a general framework or paradigm.
A paradigm shift occurs when the dominant paradigm under which normal science operates becomes incompatible with new phenomena, facilitating the adoption of new theories and paradigms.
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suppose the price of cereal rose by 25% and the quantity of milk sold decreased by 50%. then we know that the:
Let's say milk sales fell by 50% while cereal prices increased by 25%. We are aware that milk and cereal have a cross-price elasticity of -2.
Cross price elasticity: What is it?In economics, the relationship between the percentage change in the quantity of one item that is sought and the percentage change in the price of another good, ceteris paribus, is quantified by the cross elasticity of demand, also known as the cross-price elasticity of demand.
The degree to which a product's demand responds to changes in another product's price is measured by its cross-price elasticity. There are frequently linkages between certain products on the market. This may imply that a product's price adjustment may have a positive or negative effect on consumer demand.
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corporate social responsibility links the responsibility of citizenship with the strategy and key principles of a business True /False
True. Corporate social responsibility (CSR) is a concept that links a company's social and environmental responsibility with its business strategy and key principles.
CSR refers to a company's obligation to operate in a way that enhances society and the environment, as well as the bottom line. CSR involves taking responsibility for the impact that a company's activities have on stakeholders, including employees, customers, suppliers, communities, and the environment. This includes working to minimize the negative impacts of business operations, such as pollution or exploitation of workers, and maximizing the positive impacts, such as creating jobs or supporting local communities. By linking the responsibility of citizenship with the strategy and key principles of a business, CSR aims to create a more sustainable and responsible business model that benefits both the company and society. In other words, companies that embrace CSR are recognizing that their success is closely tied to the well-being of the communities and environment in which they operate, and that their actions have an impact beyond just their shareholders and bottom line. CSR is becoming increasingly important in today's business landscape, as consumers, investors, and regulators demand more transparency and accountability from companies. By embracing CSR, companies can enhance their reputation, build stronger relationships with stakeholders, and create long-term value for both the company and society.
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what set off the economic slump of the early 1980s?
The economic slump of the early 1980s were triggered by tight monetary policy in an effort to fight mounting inflation.
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing or the money supply, often as an attempt to reduce inflation or the interest rate, to ensure price stability and general trust of the value and stability of the nation's currency.
In an effort to combat inflation, the Federal Reserve tightened monetary policy by raising interest rates. This led to higher borrowing costs for consumers and businesses, which reduced spending and investment. The recession was followed by a period of economic expansion that lasted throughout much of the 1980s, fueled in part by tax cuts and other policies implemented by the Reagan administration.
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mozer villa & spa employs a seven-day workweek which begins on a sunday and a december 31 year-end. normal weekly wages amount to $76,000. if december 31 is a tuesday, what is the appropriate journal entry on january 4, the next payday for mozer villa & spa?
The suitable journal entry for Mozer Villa & Spa's next pay day, January 4, would be:
1. A $32,571 debit wage expense
2. Payable Debit Wages of $43,429
3. Cash Credit $76,000
A journal entry's main function is to document a business transaction in an organization's accounting system. The specifics of a financial transaction, such as the accounts involved, the sum of money exchanged, and the date of the transaction, are recorded in a journal entry. The general ledger, a record of all the company's financial activities, is updated by journal entries, which are often the first stage in the accounting process. Because they offer a thorough account of a business' financial activities, journal entries are crucial because they may be used to produce financial statements, compute taxes, and provide other financial reports required for management and compliance.
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the agreement between the cooperative building and the bank lending money for the purchase of shares of stock in the cooperative is known as...? A. Recognition Agreement B. CPS1 C. Flip tax
The Recognition Agreement is the contract between the cooperative building and the bank providing the financing for the purchase of cooperative stock.
The union or unions with the authority to represent and bargain on behalf of workers in that workplace are identified in a recognition agreement. It will be evident whether a specific union has the exclusive authority to negotiate on behalf of a particular bargaining unit, or if the employer recognises two or more unions jointly. Once you are familiar with the concept of owning a cooperative, understanding a Recognition Agreement is not too difficult. With a cooperative, as opposed to a condominium, you purchase shares of the corporation rather than a fee-simple type of ownership for the apartment. You also obtain a Proprietary Lease along with the shares that are given to you in the form of a stock certificate, allowing you to live in the apartment as the shareholder of those shares as long as you adhere by the terms of the lease.
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I
6. What is the level of risk with this investment?
a. Lowest risk
b.
Low risk
c. Medium risk.
d. High risk
The level of risk with this investment is lower Risk. Thus the correct option is A.
What is a Risk?The definition of risk is the potential that something bad might happen or any uncertainty that might disturb or affect a person's well-being or an asset in terms of physical harm or monetary loss.
In the given case, the context of investment is missing so it is assumed that the investment is related to Savings bonds which creates a lower Risk in the funding.
You give loans to the US government when you purchase a US savings bond. Bonds continue to be a secure, simple method of long-term savings and growth as it is associated with the government of the country.
Therefore, option A is appropriate.
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the allowance method is required by gaap for financial reporting purposes. (true or false)
For the purposes of financial reporting, GAAP mandates the allowance technique. True.
The required details for GAAP in given paragraph
The U.S. Securities and Exchange Commission (SEC) developed the accounting standard known as Generally Accepted Accounting Standards, which is the one that all American-based businesses employ by default. The Accounting Standards Codification (ASC), the only source of authentic nongovernmental U.S. GAAP, is published and maintained by the Financial Accounting Standards Board (FASB).In 2008, the FASB started publishing U.S. GAAP in XBRL, an extensible business reporting language. The authoritative GAAP accepted by the FASB for application by nongovernmental entities is found in the FASB Accounting Standards Codification.
For SEC registrants, authoritative GAAP can also be found in the rules and interpretive releases issued by the SEC under the authority of federal securities laws.
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In acceptance sampling, if the sample passes inspection then: The full order is accepted The remaining items in the order are subjected to inspection The order is returned to the supplier A supplier can hit 100% quality levels The inspected items are returned to the supplier
Acceptance sampling is used to know if a product should be accepted or not. This is option A, full order is accepted.
Acceptance Sampling uses statistical sampling to determine whether a product lot of material is accepted or rejected. This was a quality control fashion extensively used in the assiduity. This generally happens when the products leave the plant, in some cases at the plant.
The main purpose of the acceptance sample is to decide whether a lot is respectable and not to estimate the quality of the lot. Acceptance samples are used when one or further of the ensuing conditions are met.
The tests are destructive. The cost of a 100% examination is veritably high. The system is applicable to diligence where mass product takes place and these diligence use a fixed product process.
Question
When taking samples for acceptance, if the sample passes the test
a) Order completely accepted
b) The other particulars in the order are subject to review
c) The order is returned to the supplier
d) The supplier can achieve a quality position of 100.
e) Audited particulars are returned to the supplier
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what tool involves assessing the probability or relative frequency of an event against the aggregate severity of the loss? A. Risk mapping B. Activity-sistem maps
Analyzing the likelihood or frequency of an event in relation to the total magnitude of the loss is done using a risk mapping tool.
The required details for risk mapping in given paragraph
Risk mapping is a method for displaying the risks connected to a company, project, or other system in a way that helps you better understand them, including what risks are crucial and which ones are not, as well as if the overall risk picture is complete. Risk mapping is primarily qualitative, and its advantages include improving your comprehension of the risk profile and your ability to communicate it, forcing you to think through the nature and implications of the risks that have been identified with rigor.
Improving your risk models by creating an intermediary link between the risk register and the model, and improving your risk register by basing it on the model.
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when the stock being valued does not pay dividends, ____
When the stock being valued does not pay dividends, the valuation method used is usually the discounted cash flow (DCF) method.
What is discounted cash flow?In this method, the value of the stock is estimated based on the present value of the future cash flows the investor expects to receive from owning the stock.
This approach takes into account various factors such as the expected growth rate of the company, the risk associated with the investment, and the time value of money.
The DCF method is commonly used to value stocks of growth-oriented companies that are expected to generate future earnings growth but do not pay dividends.
Thus, when the stock being cherished does not pay dividends, the discounted cash flow (DCF) method is usually used.
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which of the following descriptions about commercial paper are true? (select all that apply.) check all that apply allows a company to borrow cash without having to follow formal loan procedures and paperwork. allows a company to borrow cash without having to follow formal loan procedures and paperwork. interest is often discounted at issuance interest is often discounted at issuance interest rate is often higher than in a bank loan interest rate is often higher than in a bank loan sold in denominations of $50,000
There is just one valid response. An unsecured loan obtained by businesses through obviously aware in the form of promissory notes is known as commercial paper (CP).
Examples of commercial paper are provided.Commercial paper, often known as CP, is a type of short-term debt that businesses issue to borrow money, typically for a duration of up to one year. It was initially established in India in 1990 and is an unsecure money market embedded analytics in the form of such a promissory note.
How does commercial paper compare to bonds?Commercial paper loans and bond loans are both convertible fixed-income products. Although both loan products are conceptually relatively similar, commercial papers often have shorter terms and are more standardised than
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what is a characteristic f a unit investment trust?
A unit investment trust (UIT) is a kind of investment vehicle that combines funds from numerous investors to buy a set portfolio of income-producing securities, such as stocks, bonds etc.
Some of the main characteristics of a Unit Investment Trust are:
1.Fixed Portfolio: A UIT has a fixed portfolio of securities that is decided upon at the start and remains constant throughout the trust's existence, with a few rare exceptions.
2. Limited Duration: A UIT has a predetermined timeframe that is determined at the beginning and can be anything between a few months and many years. The trust will be dissolved after this time and the investors will receive the proceeds of the sale of the underlying securities.
3. Passive Management: UITs are frequently managed in a passive manner, which means that the securities in the trust's portfolio aren't actively traded or adjusted but rather are kept in place for the duration of the trust.
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adam hopes to show the bank's lending manager that he is aware of who the target market is, who the competition is, how much money he needs, and exactly how he intends to turn a profit by supplying him with a(n)
Adam hopes to show the bank's lending manager that he is aware of who the target market is, who the competition is, how much money he needs, and exactly how he intends to turn a profit by supplying him with a business plan.
What are business plan objectives?Business objectives are specific, measurable outcomes that companies hope to achieve as their organization grows. When developing a set of business objectives, you concentrate on specifics. This entails analyzing, evaluating, and comprehending where you are now and where you wish to be in the future.
A business plan is a formal document that outlines a company's goals, strategies, and financial forecasts. It typically includes an executive summary, company description, market analysis, marketing strategy, management plan, financial projections, and appendix.
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Who of the following would be classified as out of the labor force?
a. A person willing to work, who has looked for a job in the preceding week.
b. A person with a part-time job.
c. A person with a full-time job.
d. A person willing to work who has not looked for a job in two months.
d. A person willing to work who has not looked for a job in two months would be classified as out of the labor force
Those who are employed or actively looking for work make up the labor force. Out of the labor force refers to those who are neither employed nor actively looking for work. Retirees, full-time students, and those with disabilities who are unable to work are a few examples. A person willing to work who has not looked for a job in two months would be classified as out of the labor force
In the given case, someone who has been actively seeking employment throughout the previous week is a member of the labour force and is categorised as either employed or jobless based on whether they have been successful in finding work. An individual who works part-time is employed and a member of the labour force. A full-time employee is also employed and counts as being in the labor force.
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A firm's business risk is measured by the variability in what over time?
Organizations have a specific measure of chance inborn to be ready to go. The obligation will add risk (financial risk) to an organization however the business risk is the gamble that exists without a trace of obligation.
Business risk is the openness an organization or association needs to factor(s) that will bring down its benefits or lead it to fizzle. Whatever compromises an organization's capacity to accomplish its monetary objectives is viewed as a business risk. There are many variables that can join to make business risk. Some of the time an organization's top initiative or the board causes circumstances where a business might be presented indeed of chance.
Notwithstanding, at times the reason for risk is outer to an organization. Along these lines, it is outside the realm of possibilities for an organization to shield itself from risk totally. Notwithstanding, there are ways of moderating the general dangers related to working in a business; most organizations achieve this by taking on a gamble on the executive's system.
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The _____ property determines the order in which each control receives the focus
The tabindex property determines the order in which each control will receives the focus.
The tabIndex property is an integer value that can be set on controls in a user interface, such as text boxes, buttons, and other input elements. Controls with a lower tabindex value receive focus first when the user will navigates through the interface using the Tab key or the other input methods.
By setting the tabIndex property on controls, developers can control the order in which users will interact with the interface, which can help improve the usability as well as accessibility of an application or the website.
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on the income statement, how should the transaction be reported when a company discontinues an operation and disposes of the discontinued operation (component)?
Discontinued operations are documented in a distinct line item on the income statement and are not counted as continuing operational activity.
What is reported as part of discontinued operations?When a business shuts down an operation and sells the discontinued operation, the transactions should be recorded as a gain or loss on disposal and reported as a prior period adjustment on the income statement. Discontinued operations must be listed as a line item following gross income, and the associated tax must be included in income tax cost.
The income statement's discontinued operations part includes both the gain or loss from operating the discontinued component, net of the impact of taxes, as well as the gain or loss from selling the discontinued component, net of the impact of taxes.
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the u.s. government coding system that classifies a firm by the nature of its business operations is known as the: group of answer choices centralized business index. governmental id codes. peer grouping codes. government engineered coding system. standard industrial classification codes.
The Standard Industrial Classification codes are the name of the U.S. government coding system that categorizes a firm based on the nature of its business operations.
What is meant by government coding system?For the purpose of gathering, evaluating, and publishing statistical data pertaining to the American corporate economy, Federal statistics agencies classify commercial establishments according to the North American Industrial Classification System (NAICS).function. Coding systems are the opposite of writing systems in that they acquire and store information in binary digit form. Up to eight of these characters can be represented by a combination of three binary digits, up to 16 by a combination of four, and so on. The government has a policy of employing a hierarchical coding system to record financial transactions. This system enables the collection and reporting of financial data in a way that satisfies departmental legal and administrative requirements as well as the needs of the government as a whole.To learn more about government coding system, refer to:
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of the following professional accreditation and certification groups, which is an association for safety engineers, industrial hygienists, safety managers, and fire protection engineers?
Board of Certified Safety Professionals is an association for safety engineers, industrial hygienists, safety managers, and fire protection engineers.
What is professional accreditation?A course is said to be professionally accredited if it has received the endorsement of a specific external Competent, Statutory, of Regulatory Body (PSRB) because the graduates' learning and accomplishment match national professional criteria.
Why is it crucial to get professional accreditation?Professional accreditation offers unbiased third-party verification or approval of a person's degree of expertise to perform in a particular industry or profession, as well as proof of their knowledge, ability, experience, and competency. provides facilities a competitive edge and demonstrates their dedication to higher standards. offers procedures for prompt, precise diagnosis and treatment.
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a situation in which resources are used in the most productive way possible to produce the goods and services that have the greatest economic value to society is called
A situation in which resources are used in the most productive way possible to produce the goods and services that have the greatest economic value to society is called Efficiency.
Economics can be broadly divided into microeconomics and macroeconomics. Microeconomics focuses on the behavior of individuals and firms in the marketplace, while macroeconomics deals with the overall performance of the economy, including factors such as inflation, unemployment, and economic growth.
Economists use various tools, such as mathematical models and statistical analysis, to study the economy and make predictions about future economic trends. They also provide guidance on policy decisions, such as tax rates, government spending, and monetary policy, to help promote economic growth and stability. The field of economics is constantly evolving, and new theories and models are developed to better understand the complexities of the global economy.
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Complete Question: -
Describe a situation in which resources are used in the most productive way possible to produce the goods and services that have the greatest economic value to society.
The economy has been very volatile lately. There is a 40% chance of recession and a 60% chance of a boom. Stock A would have a return of −15% if there was a recession but, a 40% return in a boom economy. What is the expected return for Stock A?A. −18%B. −15%C. 18%D. 15%E. 40%
Option c: The economy has been very unstable lately. The expected return for the stock is 18%.
What happens during recessions?
Recessions are characterized by prolonged periods of low or negative real GDP (output) growth, accompanied by large increases in unemployment. A recession also weakens many other economic indicators.
What exactly causes the recession?
Rising interest rates are often cited as the primary cause of recessions, but there are many others. The war between Russia and Ukraine, and the impact on energy and commodity prices contributing to higher inflation, are two anomalous events plaguing markets at the moment.
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how often will you complete the two initiating processes
Two primary processes are included in the initiating process group: developing the project charter and identifying project stakeholders.
While developing the project charter is typically done only once, if your organization requires it, you can create a charter at each phase of the project. Identifying project stakeholders occurs throughout the project, but it should occur as early as possible.
When a project is formally approved and assigned to a project manager, it enters the initiating process group.
A project charter will typically also include:
Resources neededStakeholders of importanceA high-level timeline with important datesA rough cost estimateAny risks, issues, or dependencies that are known.To learn more about initiating process group, please refer:
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leaders at wheelworks note that europe is the motherland of cycling, and they publicize that sales consultant kurt begemann raced in europe. this is relevant to the company because:
Based on the information, this is relevant to the company because consumers whose self-concept is connected to European style and multicultural values will be more likely to shop at Wheelworks when they see those values expressed in the store. Thus the correct option is D.
What are leaders?A leader is defined as someone who practices the skill of inspiring and leading individuals or groups of individuals in a certain organization in order to win their support and help them develop by offering greater guidance.
In this example, it appears that buyers who identified themselves as having a sense of European style and cultural values will be more inclined to spend money at Wheelworks when they see those characteristics upheld by the institution.
Therefore, option D is appropriate.
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The complete question is Probably
Leaders at Wheelworks note that Europe is the motherland of cycling, and they publicize that sales consultant Kurt Begemann raced in Europe. This is relevant to the company because:
a. professional cyclists are the top consumer segment for Wheelworks
b. Wheelworks is a European company.
c. most of the customers at Wheelworks are European
d. consumers whose self-concept is connected to European style and multicultural values will be more likely to shop Wheelworks when they see those values expressed in the store.
Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market ________.A) leaderB) challengerC) followerD) nicherE) maven
Based on these hypothetical numbers of the percent of market , the Company B is the Market Challenger , the correct option is (b) .
⇒ The Market Leader is the company which has the largest market share, which in this case is Company A with 50% of the market share.
⇒ A Market Challenger is a company with a market share that is smaller than the market leader but is actively working to increase its market share. The Company B, with 30% of the market share, falls under this category .
⇒ A Follower is a company that has a smaller market share than the market leader and does not actively attempt to increase its market share. Company C, with 15% of the market share, may fall under this category.
⇒ A Niche company is a company that specializes in serving a specific, smaller segment of the market. Company D, with only 5% of the market share, may fall under this category.
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The given question is incomplete , the complete question is
50% of the market is in the hands of Company A, 30% is in the hands of Company B, 15% is in the hands of Company C, and the remaining 5% is in the hands of Company D.
Based on these hypothetical numbers, Company B is the market _____ .
(a) Leader
(b) Challenger
(c) Follower
(d) Niche
(e) Maven
The guests at the party offered W.B. some very interesting ideas. Trish decided to make a chart to keep track of what was being said. For future reference, she thought she should note each guest’s management perspective next to his or her comments.
Help Trish complete her chart by identifying the management perspective associated with each of the following pieces of advice.
"Try reorganizing your company. Make sure that all of the employees who are doing one kind of work report to the same manager. When companies have unity of direction, they are more efficient."
a) scientific management
b) bureaucratic management
c) administrative management
"Have you looked carefully at your worker’s movements? If you break each worker’s job down into the smallest possible task, you can redesign the job to use fewer motions and make it more efficient."
a) scientific management
b) bureaucratic management
c) administrative management
"What kinds of rules and procedures do you have in place? Workers will be more efficient when they can refer to a set of rules and not have to constantly ask supervisors what they should be doing."
a) scientific management
b) bureaucratic management
c) administrative management
When companies have unity of direction, they are more efficient." in Management perspective will be Bureaucratic management, you can redesign the job to use fewer motions and make it more efficient in scientific management, and administrative management rules and procedures have in a place. Option B, A, and C is correct.
Bureaucratic management is a management theory developed by German sociologist Max Weber. It is a system of organizing and managing work that is based on a hierarchical structure of authority, with well-defined rules and procedures for decision-making and communication.
When you can redesign the job to use fewer motions and make it more efficient." with Scientific management. It is also known as Taylorism, is a management theory developed by Frederick Winslow Taylor in the late 19th and early 20th century. It is based on the idea that work can be analyzed and optimized through a scientific approach to improve efficiency and productivity.
When, workers will be more efficient and they can refer to a set of rules and not have to constantly ask supervisors then they should be ask to Administrative management."
Administrative management is a management theory that focuses on the management of organizations, particularly in the public sector. This theory is credited to Henri Fayol, a French management theorist, who proposed a set of general principles for effective management.
Hence, B.A.C. bureaucratic management, scientific management, administrative management is the correct option.
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Question 7 master help!
The answer is the 2nd one, Fixed.
the opportunity costs of using owned resources are costs.
The opportunity costs of using owned resources; costs for which no explicit monetary payment is made is called Implicit cost.
Implicit costs are less obvious, but just as significant. They represent the opportunity cost of utilizing resources that the company already possesses. They are frequently resources contributed by small business owners, such as working in the business without receiving a formal salary or operating a retail store on the ground floor of a home.
Implicit costs also allow for the depreciation of goods, materials, and equipment required for a business to function. Even if a company pays income taxes on its accounting profit, whether or not it is economically successful is determined by its economic profit.
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